Audit 485

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Congregational Retirement Homes, Inc. and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.